【TOP 1 Morning】 Pessimistic demand outlook, oil prices hit a record low, gold once again faces a key price of $1900

Gold: Last week, the price of gold fluctuated in a small range, closing at $1,902 per ounce and silver at $24 per ounce. Fundamentally, until the dust of the U.S. election is settled, no new economic stimulus policies will continue. At the same time, U.S. bond yields continue to rise, attracting market funds. Investors should pay attention to the $1900 this week, and the price of gold may be blocked from falling.

Forex: The US dollar index fell 1% last week, while European currencies generally rose. The euro rose 1.2% against the dollar, a five-week high. The pound to the dollar once soared to 1.3177, a recent high.

Last week, the market revolved around the US stimulus negotiations, the US election and the progress of negotiations between Britain and Europe. The market's expectations for the achievement of the US stimulus plan once heated up, and the US dollar index continued to fall, but the possibility of passing the stimulus bill before the election is rapidly fading.

The UK-Europe negotiation agreement is expected to be reached, and the pound rose 0.97%, a recent high. However, the recent epidemic situation in the UK is severe, and management is being strengthened, which may be detrimental to the economy, and the pound has fallen back to around 1.30.

Crude oil: The number of newly confirmed cases in many countries around the world has set a record high, and the management and control of many places in Europe have been upgraded. The outlook for crude oil demand is pessimistic. Simultaneously,

The number of drilling rigs in the United States and Canada continues to rebound, Libya will increase production to one million barrels, and Canada will stop production cuts. Crude oil reserves on the market continue to rise. Crude oil prices fell under pressure and will receive support near $38.

Stock: All three major US stock indexes fell last week. The Dow has fallen by about 1%, the Nasdaq has fallen by 1%, and the S&P 500 has fallen by about 0.5%. The Dow and the S&P 500 index ended the previous three consecutive weeks of rising prices, and the Nasdaq fell for the first week in five weeks.

Wall Street welcomes the last trading week before the election; investors will pay close attention to the resolution of the US epidemic and the latest developments in the US election. US stocks will usher in the most uncertain period.

Focus on market data:

1. Follow the interest rate decisions of the Bank of Japan, the European Central Bank and the Bank of Canada.

2. Focus on the US durable goods orders in September; the economic and industrial climate index in the euro area in October; the actual GDP in the third quarter of the United States;

3. Major issues need to pay attention to the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting; Brexit negotiations between the UK and the EU; and discussions on the US stimulus plan.